Farmers can secure life insurance policies with normal terms through most life insurance providers.
Since being a farmer is not one of the riskiest occupations, insurance agents will generally take a more complex look at the applicant’s health, travelling habits, and hobbies instead of the risk their occupation poses.
If they have dangerous hobbies, travel to dangerous areas, or have poor health habits, their insurance policy may be more expensive since they pose a higher risk of making a claim.
Critical Illness Cover for Farmers
Farmers can also get critical illness cover on standard terms through many insurance providers.
These providers are very aware that significant safety and health standards associated with the farming and agricultural industries could be crucial in preventing occupational accidents that lead to serious injuries resulting in a claim.
Click To Compare QuotesAgain, the insurance agent will focus more on the farmer’s lifestyle, such as health, hobbies, and travel, when calculating the monthly premium payment for the critical illness policy.
Income Protection Policies for Farmers
Income protection policies are available for those within the farming industry through a few select providers, given they use the “own occupation” definition.
Farmers should ideally use this definition with any income protection product to help ensure they can make a successful claim should they suffer an accident or illness that prevents them from working.
The “own occupation” definition will ensure that the insurance policy will pay benefits should the policyholder be unable to work their specific job instead of a similar or available occupation.
Income protection policies available to farmers offer deferment periods such as one day, one week, four weeks, eight weeks, 13 weeks, 26 weeks, or 52 weeks.
Farmers who work for a corporation or company should always check to see what income protection benefits their employer offers before choosing a deferment period.
To make the most out of an income protection plan, choosing a deferment period that will enable those benefits to kick in once the employer’s benefits have stopped paying out may be beneficial.
Summary Definition
Farmers or those who work in the agricultural industry are responsible for growing crops, tending to the land, and caring for and raising animals for society’s food products.
Click To Compare QuotesSome of the most significant risks these individuals will face are associated with their regular duties, such as dealing with dangerous equipment and working with unpredictable animals.
Additionally, depending on the type of farming being done, they may also have to handle and work with dangerous chemicals that could risk their health and well-being.